Des Moines Foreclosure Homes For Sale

AdelThis page contains links to all of the foreclosure properties in the Des Moines area. This includes bank-owned properties that are currently listed in the Des Moines MLS.  Find out more about Des Moines foreclosure properties.

Click on one of the links below to display all of the foreclosure active listings in the Des Moines MLS:

Des Moines foreclosure listings under $100,000

Des Moines foreclosure listings over $100,000

New Foreclosure Listings

Des Moines Iowa Foreclosure Real Estate

As a result of  the recent economic downturn,there has been an increase in home foreclosures in the Des Moines area. Foreclosure is a judicial process that is initiated when a homeowner is unable to make their mortgage payments. The process is concluded when the institution  that holds the mortgage takes possession of the property. “Foreclosure properties” is a fairly generic term, technically speaking there are three different opportunities to purchase homes in which the foreclosure process has been intiated. They are:

  1. Pre-foreclosure – In this case the home can be purchased directly from the homeowner. In many cases a “short-sale” scenario is involved.
  2. At the sheriffs sale – This is an auction that is ordered by the court system. At sheriff sale the home is sold to the highest bidder. Many times the lender bids the amount owed at the sale to cove rthe amount owed plus costs they have incurred. If they are the highest bidder, they take possession of the property.
  3. After the sheriff sale – Once the lender takes control of the property they generally list the property in order to sell the home. The homes listed in the above links fall into this category. These homes are often referred to as REO or Real Estate Owned property

There are many advantages to purchasing homes that fall into the REO category. REO homes can be inspected in order to verify their condition before purchasing, the title can be reviewed by an attorney to ensure the buyer is receiving clear title to the property and the homes can be financed using a number of mortgage options.

See Kevin Howe of Iowa Realty for foreclosure homes for sale

If you are considering purchasing a foreclosure home feel free to contact me for assistance. Not all foreclosure properties are bargains. I have quite a bit of experience helping investors and homeowners navigate the potential pitfalls that are unique to foreclosure properties as well as negotiating with lenders to obtain the most favorable terms.